Millennial home buyer trends first time home buyer

The REAL REASON Millennials still want to buy real estate

Wednesday May 15th, 2019


Millennials know they want to buy houses.

There’s all of this talk about Millennials not wanting to get in the market or purchase a property. And quite frankly, I couldn’t disagree with this ‘fake news’ story more.

While we do want to do a lot of things differently than previous generations, investing in our future and building ethical and financial stability is important to us.

Community and connectedness are important to us.

If there’s one thing that’s true about Millennials it’s that while we might want to live life on our terms, that doesn’t mean we don’t also appreciate a sense of family, community, and neighborhood.

These are the building blocks of what a lot of us grew up on.

Canada Day firework block parties and building forts in the forest with neighborhood kids.

And as we start to grow into families of our own, passing down the beauty and simplicity of creating a sense of “home” becomes endearing.

Our generation cares about connectedness.

Connectedness to each other.

And there’s no better way of experiencing that other than where we choose to live.

From urban city-dwelling for the fast-paced business professional to uber-relaxed artist working away in the suburbs, where we choose to live says a lot about who we are.

As evidence would have it, turns out Millennials do prove to be pretty stubborn.

In fact, in Canada, Millennial homeownership rates are consistently higher than those compared to other countries.

See, the report goes on to indicate, that what Millennials really need is more affordable housing options overall.

Taking into account excessive college debt and mortgage stress tests, it is true that statistically many Millennials are choosing to live at home longer.

Which is great, because it’s enabled them to save up longer to make a down payment on a home.

But ultimately, home ownership is still incredibly important to this generation.

Getting into the real estate market means we have an opportunity to invest in real assets. But more than anything, it’s about being able to lay down our roots and make plans for the future.

As a Millennial, our homes represent an investment in ourselves.

Yes. The Instagram-nomadic lifestyle does exist for some.

But for more than many, we want to reinvent what our parents were able to give us.

We want to be able to take whatever family or living situation we so ultimately choose and make it our own.

Free of labels or some archetype of control and dictatorship.

At the end of the day, you have to take into account that labeling an entire cohort of people is never going to answer the question fully.

Millennials come from all different types of cultural and societal backgrounds that have shaped diverse opinions as well as some shared interests.

Which means ultimately, we all want different things.

Some of us might want to live a laptop-lifestyle, and some of us want to buy properties and invest in homes.

One thing is for sure, it’s safe to say regardless of what generation you came from, we all care about the future.

We all want to build for the future.

If you’re interested in getting into the real estate market, contact me today.

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